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, washington hasn't made much progress to avoid it. that was the assessment from one of those directly involved: house speaker john boehner. the top republican today accused president obama of, "slow walking", the economy to the edge of the cliff. he repeated his call for the president to send congress a plan that can pass both houses of congress. tax rates are the major sticking point. the president wants to raise them for america's highest earners, house republicans strongly oppose: >> instead of reforming the tax code and cutting spending, the president wants to raise tax rates. but even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion dollar deficits for as far as the eye can see. washington's got a spending problem, not a revenue problem. >> tom: congress and the president have 24 days to reach a deal, before the fiscal cliff's tax hikes and spending cuts take effect. >> susie: mark zandi says "bad things will happen to the economy pretty fast" if lawmakers don't settle the fiscal cliff issue. he's chief economist of moody's analytics
higher, despite the nasty tone of the fiscal cliff negotiations in washington. after trading near breakeven for most of the day, the dow moved up in the last hour of trading to close up nearly 60 points. the nasdaq added six, the s&p up almost eight points. >> susie: on capitol hill tonight, lawmakers in the house of representatives are getting ready to vote on a fiscal cliff bill. house speaker john boehner calls it "plan b" and it is expected to be a close vote. the bill proposes to extend tax breaks for everyone making less than $1 million. the move comes as talks to avert the fiscal cliff hit an impasse. darren gersh reports. >> reporter: as washington looks over the edge of the fiscal cliff, democrats and republicans were throwing elbows and getting personal. speaker boehner explained why he pushed the house to vote on a republican plan "b" tonight. >> i did my part, theydid thing. and frankly, i'm convinced that the president is unwilling to stand up to his own party on the big issues that face our country. time is running short. the house will act today, and then it will be
and to the extent that anybody is on the sidelines now because of this uncertainty over washington, this kind of deal isn't going to fix any of that for them. and hope for a done deal by the holiday is fading fast. senate majority leader harry reid said today he expects the senate will be back to work the day after christmas. dren gersh, "n.b.r.," washington. >> tom: optimism that speaker boehner's latest offer could get the fiscal cliff talks moving again, helped stocks move nicely higher: the dow rose 100 points, the nasdaq added 39, the s&p up almost 17 points. but with time running out to reach a deal, what happens on wall street, if we go over the cliff? suzanne pratt reports. >> reporter: one thing is for sure, wall street can count. that means investors know there are just nine trading days left until tax hikes automatically take effect across the nation, and hit americans where it hurts: their wallets. and, investors are also aware there are even fewer days before lawmakers are scheduled to leave on holiday break. despite the ticking clock, many investors remain optimistic there will
in politics who don't like the republicans who do not like the democrats, who do not like washington, you know what they do like? they like barack obama because they sense something about him that he's not a part of it. so even that first debate there we thought was a debacle, a lot of us people thought "well, i liked that because he's not playing th game, he's not playing gotcha, he's not saying nasty things." that that helped the balance for him. >> rose: i'll tell you who didn't like it, his campaign staff. >> i asked, -- at the end of the interview i said to him i ran into somebody during the course of the campaign who useded to work for you who is now the mayor of a major american city. >> rose: could it be chicago? (laughs) >> and i said to him "what happened, rahm, in that first debate?" and rahm looked at me and said "he haa hawaii moment." and when i said that the president laughed very loudly and he caught himself back and he told this lovely story there meant meant that when things seemed to be going to hell in a hand basket he and rahm would sit in the oval office and think "what w
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